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will the white house let our economy go over the fiscal cliff if a deal on higher tax rates for the wealthy is not reached? we're checking it out. back in a moment. [ male announcer ] research suggests cell health plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. it has 7 antioxidants to support cell health. one a day men's 50+. it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. >>> welcome back. this very public negotiation on the fiscal cliff still does not seem to be closing in on a deal. the white house out in campaign style events regularly, making multiple media appearances, kle including timothy geithner right here in 25 minutes. >> but would things be done faster if it was done privately? in his latest column, jeff goldfor a compares u.s. budget talks to merger proxy battles. jeff joins us to explain about that. plus, we have bob from
will the white house let our economy go over the fiscal cliff if a deal on higher tax rates for the wealthy is not reached? we're checking it out. back in a moment. [ male announcer ] research suggests cell health plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. it has 7 antioxidants to support cell health. one a day men's 50+. it's easy to follow the progress you're making toward all your financial goals. a...
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. >>> no fiscal cliff deal without raising taxes on the rich. that's what treasury secretary timothy geithner told steve lease son. steve joins us from the white house with more on this. >> melissa, thanks very much. interesting comments from the treasury secretary who laid out the negotiating position of the administration in ways that it hadn't before, at least not explicitly as they had. what i want to play here is the sound from the interview and i'm going to put my question in there too just so you understand exactly what the treasury secretary was responding to when it comes to the position of the administration on walking away or letting the country go over the fiscal cliff without tax hikes for the wealthy. here it is. >> i want to understand the administration's position when it comes to raising taxes on the wealthy and those making more than $250,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates go
. >>> no fiscal cliff deal without raising taxes on the rich. that's what treasury secretary timothy geithner told steve lease son. steve joins us from the white house with more on this. >> melissa, thanks very much. interesting comments from the treasury secretary who laid out the negotiating position of the administration in ways that it hadn't before, at least not explicitly as they had. what i want to play here is the sound from the interview and i'm going to put my question...
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, are going home at the taxpayers' expense on this day with the fiscal cliff not resolved in any meaningful way. congressman walz, thank you very much. >> yeah, i really appreciate it. >>> shares of freeport mcmoran the worst performer on the s&p. shares moving lower here. after the conference call hard-edged questions coming from one of its major shareholders. cio blackrock's natural resources team abby hambrook saying they should put this issue to shareholders an they feel like they have broken investors' trust by diversifying into energy with these $9 billion deals. back to you, sue. >>> we are just off the highs of the day, up 130 points. we'll continue to follow the markets for you. >>> plus, emergency landings and inspections by regulators. growing pains for boeing's new dreamliner. >>> plus, netflix's deal with disney. is it really a game changer? phil lebeau and julia boorstin all over those big stories. phil, you first. >> sue, right now as we speak a technical team from boeing is in new orleans looking at that dreamliner after the emergency landing. we'll have the latest in just a
, are going home at the taxpayers' expense on this day with the fiscal cliff not resolved in any meaningful way. congressman walz, thank you very much. >> yeah, i really appreciate it. >>> shares of freeport mcmoran the worst performer on the s&p. shares moving lower here. after the conference call hard-edged questions coming from one of its major shareholders. cio blackrock's natural resources team abby hambrook saying they should put this issue to shareholders an they feel...
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we're just 26 days away from the fiscal cliff. steve liesman joins us now live from the treasury. he has an exclusive interview with one of the key negotiators at the white house, secretary of treasury timothy geithner. >> maria, thank you. i'm here with the secretary of treasury at a crucial time. thank you for joining us. >> thank you. >> speaker boehner has put forward a proposal which "usa today" says demonstrates more political courage the democrats have shown. the white house is saying today it's not even wor ty -- worthy of a response. what are we missing? >> i think we are making progress. they acknowledged they were prepapered to do $800 billion in higher taxes on part of the american economy. that's part of the balanced framework. that's definitely progress. what we need to see is have them acknowledge the rates go up. if they're willing to accept that and commit to that, then we think we could do something good for the economy. we can make the government use the taxpayers' money more efficiently, lock in some spending savings and do some long-term entitlement reforms to
we're just 26 days away from the fiscal cliff. steve liesman joins us now live from the treasury. he has an exclusive interview with one of the key negotiators at the white house, secretary of treasury timothy geithner. >> maria, thank you. i'm here with the secretary of treasury at a crucial time. thank you for joining us. >> thank you. >> speaker boehner has put forward a proposal which "usa today" says demonstrates more political courage the democrats have shown....
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when it comes to just pure optics of the house leaving with the fiscal cliff right in front of us -- >> i'll be here and i'll be available at any moment to sit down with the president to get serious about solving this problem. >> in fact, sending lawmakers home is a way for house republicans to illustrate their current message, your move, mr. president. >> we need a response from the white house, we can't negotiate with ourselves. >> john boehner made a point at expressing dismay the president hasn't responded two days after the republicans sent him a fiscal cliff counteroffer. >> if the president doesn't agree with our proposal and our outline, i think he's got an obligation to send one to the congress. and a plan that can pass both chambers of congress. >> by trying to keep gop frustration on the president, boehner appears to be keeping conservative lawmakers off his own back for now. >> what's mood inside the conference. >> very united, very supportive with the speaker. >> multiple sources tell cnn in a private meeting with house republicans, boehner got no flow back for producing
when it comes to just pure optics of the house leaving with the fiscal cliff right in front of us -- >> i'll be here and i'll be available at any moment to sit down with the president to get serious about solving this problem. >> in fact, sending lawmakers home is a way for house republicans to illustrate their current message, your move, mr. president. >> we need a response from the white house, we can't negotiate with ourselves. >> john boehner made a point at...
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so, madam president, the president has offered a very clear plan that takes us off the fiscal cliff that is fair. we have 27 days to do the right thing. the senate already passed the tax cuts for 98% of the people. all we're asking is for the house to do that, match us. then we can get back to the table and figure out a way to soften the blow of the automatic spending cuts. we could look at tax reform. and i want to just say this about tack reform. when our colleagues complain about tax rates and say well, we would rather close loopholes, watch out. in order to raise the kind of funds we need to raise to lower this deficit, you're looking at the two biggest --quote, unquote -- deductions. one is for your mortgage and one is for charitable, and i would ask rhetorically what billionaire do you know who has a mortgage? i don't frankly know any. they own their own holes. they don't need a mortgage. they are not hurt by that. who gets hurt? the middle class. so let's do the right thing. we have passed the right thing on july 25, 2012. we have 27 days left before taxes on the middle class go u
so, madam president, the president has offered a very clear plan that takes us off the fiscal cliff that is fair. we have 27 days to do the right thing. the senate already passed the tax cuts for 98% of the people. all we're asking is for the house to do that, match us. then we can get back to the table and figure out a way to soften the blow of the automatic spending cuts. we could look at tax reform. and i want to just say this about tack reform. when our colleagues complain about tax rates...
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tomorrow our joint economic committee will be engaged in a hearing on fiscal cliff issues. we'll discuss strategies to create jobs, we'll discuss the implications of the fiscal cliff, and what happens if we don't get some work done by the house to pass the middle-income tax cut. we have to continue to focus on middle-income families, their lives, their struggles and what we can do to ensure they have more dollars in their pocket to continue economic growth. with that, mr. president, i will yield the floor. and note the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: mr. schumer: mr. president? the presiding officer: the senator from new york. mr. schumer: i ask unanimous consent the quorum call be repealed. the presiding officer: without objection. mr. schumer: thank you, mr. president. first i want to thank my great colleague from pennsylvania, i enjoyed sharing a table last night with him and his beautiful, charming, intelligent wife, who he's lucky he would be the first to admit he's lucky to have married, and their four great girls
tomorrow our joint economic committee will be engaged in a hearing on fiscal cliff issues. we'll discuss strategies to create jobs, we'll discuss the implications of the fiscal cliff, and what happens if we don't get some work done by the house to pass the middle-income tax cut. we have to continue to focus on middle-income families, their lives, their struggles and what we can do to ensure they have more dollars in their pocket to continue economic growth. with that, mr. president, i will...